DTN Grain Open: Sharply Higher on Quality Concerns, Planting Support

6:00 a.m. CME Globex: July corn is up 5 cents per bushel, July soybeans are up 7 cents, and July K.C. wheat is up 12 3/4 cents.

CME Globex Recap: Global equity markets are mixed to weaker Monday morning as investors refocus on the trade rift between the U.S. and China after a weekend of mostly disheartening commentary related to a trade deal. The U.S. moved forward with plans to blacklist Chinese-telecomm giant Huawai and essentially any country which does business with the company.

This is not slowing grains down, however, as all contracts are sharply higher overnight led by Kansas City Wheat. The speculative sector is still heavily short our space, providing upside momentum as more of their positions end up below spot prices.

It has been several years since a major prevent plant event took place and it would appear that is exactly what the market has on its hands this year.

OUTSIDE MARKETS: Previous closes on Friday showed the Dow Jones Industrial Average down 98.68 at 25,764.00 and the S&P 500 down 16.79 at 2,876.32 while the 10-Year Treasury yield ended at 2.393%. Early Monday, the June DJIA futures are down 26 points.

The June Euro is up 0.000 at 1.120 and the June U.S. dollar index is down 0.049 at 97.775. The June 30-Year T-Bond is down 3/32nds, while June gold is down $1.70 at $1,274.00 and June crude oil is up $0.29 at $63.05. Soybeans on China’s Dalian Exchange were up 1.17% while soybean meal was up 1.14%.

Editor’s Note: Late in the week, the Ninth Circuit Court of Appeals voided the registration for dicamba-based herbicides used with related seed train technology. The products included Engenia, Xtendimax and […]